Welcome to our dedicated page for SOBR Safe news (Ticker: SOBR), a resource for investors and traders seeking the latest updates and insights on SOBR Safe stock.
SOBR Safe, Inc. is a technology company based in Boulder, Colorado, specializing in touch-based identity verification and alcohol detection systems. The company developed the SOBRsafe software platform, a patent-pending solution for non-invasive alcohol detection and identity verification. SOBR Safe generates revenue through the sale of cloud-based software solutions, hardware devices, and data reporting services. With applications in commercial fleet management, school buses, manufacturing facilities, and warehousing, SOBR Safe focuses on providing statistical and measurable user data with its scalable technology.
SOBR Safe, Inc. (Nasdaq:SOBR) raised $19.5 million in 2022 amid challenging market conditions. The company launched its flagship product, SOBRcheck, and secured 6 customers while signing 9 distributors with access to 52,000 potential users. SOBR Safe's technology is actively deployed across various industries, including justice and oil and gas. Upcoming product launches include SOBRsure for the alcohol rehabilitation market. The company aims to ramp revenue in 2023, building on its strong foundation established since its Nasdaq debut.
SOBR Safe has expanded its sales team with 29 professionals and signed five new distributors, bringing the total to nine. These distributors have already sold alcohol detection products to 525 customers and target a potential user base of 52,000. The SOBRcheck system, recognized with various awards, uses fingertip detection to identify alcohol without traditional sampling methods. With alcohol abuse costing the U.S. $249 billion annually, SOBRsafe's technology aims to enhance safety in workplaces and other sectors.
SOBR Safe, Inc. (NASDAQ:SOBR) announces successful trials of its SOBRcheck alcohol screening technology in the oil and gas sector, leading to a Software as a Service (SaaS) agreement with a major oilfield provider. This initial deployment occurs in two service centers, indicating a potential for further expansion. Oil and gas industry workers exhibit a 26% binge drinking rate, highlighting the importance of safety solutions like SOBRcheck, which detects alcohol through fingertip contact. The company aims to leverage this case to enhance its market presence.
SOBR Safe has expanded its partnership with Alternatives, Inc. to install the SOBRcheck alcohol screening technology in a second facility, following a successful initial installation. This innovative system replaces traditional breathalyzers, enhancing efficiency in client identification and sobriety checks. The adoption of SOBRcheck is anticipated to elevate the company's profile in the judicial market. The technology has been recognized with awards for its effectiveness, addressing significant alcohol-related issues in various sectors.
SOBR Safe, Inc. (NASDAQ:SOBR) announced the appointment of Marius Karoy as the new Director of Commercial Development. With nearly 20 years of sales and business development experience, Karoy's background includes significant success in logistics and healthcare. He previously served as Chief Commercial Officer at Instructional Technologies, where he achieved double-digit revenue growth for 16 years and expanded the customer base significantly. SOBRsafe anticipates that Karoy can help convert a robust pipeline of prospective customers into revenue, enhancing the company's alcohol detection solutions business.
SOBR Safe (Nasdaq:SOBR) announced its participation in the Sidoti & Company Virtual Investment Conference on November 10, 2022. Chairman & CEO Dave Gandini will present at 1:00pm ET and hold one-on-one investor meetings on November 9-10. The company's innovative SOBRcheck technology, which detects alcohol through skin contact, received the Occupational Health & Safety 2022 New Product of the Year award. With a focus on preventing alcohol-related incidents, SOBRsafe aims to address the $249 billion annual cost of alcohol abuse in the U.S.
SOBR Safe, Inc. (NASDAQ:SOBR) has received the Safe Family Seal of Approval from the Child Safety Network (CSN) for its innovative alcohol screening solution, SOBRcheck. This endorsement supports their integration into the safety protocols for America's 500,000 school buses, aiming to enhance driver safety and student protection. CSN's backing is expected to increase exposure across school districts, aligning with their mission to create safer environments for children. SOBRcheck detects alcohol through a fingertip touch, eliminating the need for traditional sample methods.
SOBR Safe, a provider of innovative alcohol screening solutions, is expanding into the oil and gas sector through demonstrations of its SOBRcheck system, sponsored by TerraTech, a leading oilfield services firm. The oil and gas industry has a high binge drinking rate, with 26% of extraction workers affected. SOBRcheck, which detects alcohol through skin contact, aims to improve workplace safety and mitigate risks associated with binge drinking. The technology recently won Occupational Health & Safety 2022 New Product of the Year, highlighting its potential impact on the industry.
SOBR Safe, a leader in alcohol screening solutions, announced a cash position exceeding $10 million as of October 25, 2022, bolstered by a $6 million financing and over $3 million from exercised warrants. This financial boost will enhance their national sales team and expedite the development of SOBRcheck, a non-invasive alcohol detection technology recently recognized as New Product of the Year. The persistent challenges of alcohol abuse in the U.S., costing $249 billion annually, underscore the importance of SOBRsafe's innovative solutions.
SOBR Safe, Inc. (NASDAQ:SOBR) has announced that a major west coast commercial construction company is adopting its SOBRcheck™ technology for alcohol screening of over 400 employees. This transition from legacy screening methods confirms the effectiveness of SOBRsafe's sales strategy. The construction sector faces significant alcohol-related risks, accounting for over 20% of injuries, costing $12 billion annually. SOBRcheck's non-invasive detection technology aims to enhance workplace safety and has been recognized as Occupational Health & Safety's 2022 New Product of the Year.
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